When will the real estate market turn again? This is the question of the moment. ABSA seems to think that starting next year the real estate market will start to recover again, let’s hold thumbs.
Well if you are still able to hold on to your property great. Lots of people are unfortunately not so lucky. There were many people who thought they could get in to real estate investing the last couple of years. As soon as they got in, the market trend and they lost everything.
So what do we have to learn from all this? If you are going to invest in property you better be ready for any market. You need an emergency fund for times when the rental won’t cover the bond. If you base your investing strategy solely on refinancing, you will struggle allot. Banks won’t let you refinance in markets like the one we are currently in, so don’t just bargain on them.
Well I hope that you are one of the lucky ones, if you are, please share your views with us and other aspiring investors.
